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Brooks Macdonald buys Arch Cru fund manager for £32m

by Daniel Grote on Nov 16, 2012 at 07:27

AIM-listed discretionary fund manager Brooks Macdonald has announced it is buying Spearpoint, manager of the Arch Cru funds.

Brooks Macdonald will pay £23.1 million, and said it expected the additional deferred consideration as part of the deal to hit £9 million. The acquisition is expected to complete on Monday, with the deferred consideration payable in November 2014.

Channel Islands-based Spearpoint manages around £1.1 billion of assets, and Brooks Macdonald said buying the manager fitted with its growth strategy.

‘The acquisition of Spearpoint is a major step forward for the group and captures an opportunity we have been seeking for a number of years,’ said Brooks Macdonald group chief executive Chris Macdonald (pictured). ‘It adds scale, offshore and international capability together with the acquisition of a strong investment management and pensions team.’

Spearpoint took over management of the Arch Cru funds from Arch Financial Products in December 2009, charged with winding up the suspended funds over a five-year period. It reported pre-tax profits of £3.9 million on revenues of £11.4 million in 2011.

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9 comments so far. Why not have your say?

"Spearpoint holdings" is the investor into Succession , NOT Spearpoint Retirement solutions and Ltd which are the subsidary businesses that have been sold

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Err, no. Spearpoint is the ACD, NOT the investment manager......I don't think Arch Cru has an investment manager, more like a disinvestment manager!

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@ Simon Chamberlain

Apologies, have removed that line

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@ Dirk - Spearpoint is the investment manager of the Channel Islands-listed cells which make up the Arch Cru funds. Capita is the ACD for the funds.

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Always "Follow the money"

A few days ago l saw that some monies for "a sure thing" investment had been found in Nevis and in the Turks & Caicos Islands.

Whenever you see these places, l can give you a cast iron guarantee. The guarantee is that the people running the investment will be sure to make far more money than anyone else. This simple rule never fails.

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Turks & Caicos Islands? Never invest anywhere with a FIFA ranking of less than, say, 25 would be another good rule.

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Agreed. Some places are just too far offshore for any good to come from it

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On the basis of Sascha's theory about FIFA rankings, we therefore must not invest with 75% of the life companies in the UK and a good selection of fund houses either. I am referring to companies based in Edinburgh!

After this World Cup qualifying campaign you will probably find Londo is ruled out as well.

Currently as Spain is number one we need to all invest out there. Maybe a nice polaris world off plan?

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Sascha K

Nov 16, 2012 at 12:22

Terry S: Would it surprise you to learn that I hadn't overlooked Scotland? If it means missing out on the enticing growth prospects offered by bankrupt nationalised banks, so be it.

As for Spain, "don't invest in A" does not logically imply "you must invest in Not-A".

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